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U.S. SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 12b-25
NOTIFICATION OF LATE FILING
[ ]Form 10KSB [ ]Form 20-F [ ]Form 11-K [X]Form 10QSB [ ]Form N-SAR
For Period Ended: December 31, 1999
[ ] Transition Report on Form 10-KSB
[ ] Transition Report on Form 20-F
[ ] Transition Report on Form 11-K
[ ] Transition Report on Form 10-Q
[ ] Transition Report on Form N-SAR
For the Transition Period Ended: ..................
Read Attached Instruction Sheet Before Preparing Form. Please Print or Type.
Nothing in this form shall be construed to imply that the Commission has
verified any information contained herein.
If the notification relates to a portion of the filing checked above, identify
the Item(s) to which the notifiation relates.
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PART 1
REGISTRANT INFORMATION
Full Name of Registrant: Technical Ventures Inc.
Former Name if applicable: N/A
Address of Principal Executive Office (Street and Number)
3411 McNicoll Ave., Unit 11
City,State and Zip Code: Scarborough,Ontario,Canada M1V 2V6
PART II
RULES 12b-25 (b) AND (c)
If the subject report could not be filed without unreasonable effort or
expense and the registrant seeks relief pursuant to Rule 12b-25(b), the
following should be completed. (Check box if appropriate)
[X](a) The reasons described in reasonable detail in Part III of this form
could not be eliminated without reasonable effort or expense.
[X](b) The subject annual report, semi-annual report, transition report on
Form 10-KSB, Form 20-F, 11-K or Form N-SAR, or portion thereof will be
filed on or before the fifteenth calendar day following the prescribed
due date; or the subject quarterly report or transition report on
Form 10-Q, or portion thereof will be filed on or before the fifth
calendar day following the prescribed due date; and
[ ](c) The accountant's statement or other exhibit required by Rule 12b-25(c)
has been attached if applicable.
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PART III
NARRATIVE
State below in reasonable detail the reasons why Form 10KSB,20-F,11-K,10-Q,
N-SAR, or the transition report or portion thereof could not be filed within
the prescribed period. (Attach extra sheets if needed)
The Company's Statement of Income and Expense, additionally it's Statement of
Cash Flows presentation is being reformatted to provide more detail in the
financial information presented; thereby conforming with certain accounting
practices and also, as suggested by the S.E.C. in recent comments. In order
to present the information accordingly, historical financial information must
be reviewed and realigned to accommodate the new format of presentation.
Gathering information and finalizing the new procedures and the form of
presentation has delayed the Company in closing it's financial statements for
the second quarter of the current financial year, thereby delaying the filing
of it's 10 QSB Report.
Additionally, it is anticipated that a significant change in results of
operations from the corresponding period for the last fiscal year will be
reflected by the earnings statements to be included in the subject report.
This change deals with the effect of a fair - value based method of accounting
for stock based compensation. It encourages but does not require that
companies recognize stock based compensation on the fair value based method.
Recognition of this method will effect the Net Income [Loss] of the company
for the period ending December 31, 1998.
It is expected that the company will be able to file it's Quarterly Report on
Form 10 QSB for the period ended December 31, 1999, within the time frame
allowed in this Notification Of Late Filing on Form 12b-25. However due to
the degree of changes which have become necessary there can be no guarantee
that the filing can be done within the time frame allowed; the Company will,
however, make every effort to meet the Late Filing Extension deadline.
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PART IV
OTHER INFORMATION
(1) Name and telephone number of person to contact in regard of this
notification.
Larry Leverton 416 299-9280
Name (Area Code) (Telephone Number)
(2) Have all other periodic reports required under section 13 or 15(d) of the
Securities Exchange Act of 1934 or section 30 of the Investment Company
Act of 1940 during the preceding 12 months or for such shorter period
that the registrant was required to file such report(s) been filed? If
the answer is no, identify report(s).
[X] Yes [ ] No
(3) Is it anticipated that any significant change in results of operations
from the corresponding period for the last fiscal year will be reflected
by the earnings statements to be included in the subject report or portion
thereof?
[ ] Yes [X] No
If so: attach an explanation of the anticipated change, both narratively and
quantitatively, and, if appropriate, state the reasons why a reasonable
estimate of the results cannot be made.
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Technical Ventures Inc.
(Name of Registrant as specified in charter)
has caused this notification to be signed on its behalf by the undersigned
thereunto duly authorized.
Date: February 14, 1999 By:/S/Larry Leverton
Larry Leverton
Chief Financial Officer
INSTRUCTION: The form may be signed by an executive officer of the registrant
or by any other duly authorized representative. The name and title of the
person signing the form shall be typed or printed beneath the signature. If
the statement is signed on behalf of the registrant by an authorized
representative (other than an executive officer), evidence of the
representative's authority to sign on behalf of the registrant shall be filed
with the form.
ATTENTION
Intentional misstatements or omissions of fact constitute Federal Criminal
Violations (See 18 U.S.C. 1001).
GENERAL INSTRUCTIONS
1. This form is required by Rule 12b-25 of the General Rules and Regulations
under the Securities Exchange Act of 1934.
2. One signed original and four conformed copies of this form and amendments
thereto must be completed and filed with the Securities and Exchange
Commission, Washington, DC 20549, in accordance with Rule 0-3 of the General
Rules and Regulations under the Act. The information contained in or filed
with the Form will be made a matter of the public record in the Commission
files.
3. A manually signed copy of the form and amendments thereto shall be filed
with each national securities exchange on which any class of securities of
the registrant is registered.
4. Amendments to the naotifications must also be filed on Form 12b-25 but need
not restate information that has been correctly furnished. The form shall be
clearly indentified as an amended notification.
5. Electronic filers. This form shall not be used by electronic filers unable
to timely file a report solely due to electronic difficulties. Filers unable
to submit a report within the time period prescribed due to difficulties in
electronic filing should comply with either Rule 201 or Rule 202 of Regulation
S-T or apply for an adjustment in filing date pursuant to Rule 13(b) of
Regulation S-T.
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